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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: T Bowl who wrote (6800)	7/15/1999 11:06:00 PM
From: Sam	Respond to of 9256

Todd, Mark, LT, all, Seagate says not only that it will be difficult to be profitable in the Sept quarter, but they are even saying that the Dec quarter could be breakeven! Now that's something. This war is serious business, it's do or die this time. Not good for short termers but it's good for next year for the survivors. s. Seagate says Q1, Q2 profit "difficult" BANGKOK, July 16 (Reuters) - U.S. disk drive maker Seagate Technologies said on Friday it would be ''very difficult'' for it to achieve profitability in the current quarter to September. Seagate's chief financial officer Charles Pope told journalists and analysts in a conference call it would be possible, but difficult, for the firm to be ''close to breakeven'' in the second quarter to December, but it anticipated being profitable for the full year to next June. ''During the coming quarter, given the pricing environment that we exited the June quarter at, it would be very difficult to be profitable during the September quarter,'' he said in the call with the Asia-based analysts and journalists. ''I won't be specific on how much we would expect to lose -- I don't think it's a huge amount, but it's a disappointment given the progress that we've made that we can't even anticipate being profitable in the September quarter,'' Pope said. ''I think that depending on the activities of the company, it would be possible to be close to breakeven in the December quarter, it would be difficult, but I think that that is attainable.'' However, he added: ''We would anticipate being profitable for the entire fiscal year ending in June.''